MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, November 26, 2002 Markets, Not Investors, Drove Fund Assets Up In October Fund investors continued to pull money from equity funds in October, even as the overall stock market recovered. All told, shareholders pulled $7.48 from equity funds in October. The outflow was roughly half of the $16.1 billion liquidated in September, reported the Investment Company Institute today. Even with the outflows, though, total assets in all mutual funds rose by $174.1 billion to $6.23 trillion during the month. The gain was primarily driven by rising stock prices. On the bright side, new sales of equity fund shares rose to $74.9 billion in October from a revised $53.9 billion in September. The higher sales were offset by an increase in redemptions to $77.5 billion from a revised $63.2 billion September. So far in 2002 net cash flow to equity funds has been $13.97 billion, up from a net outflow of $26.53 billion at the same point in 2001. Printed from: MFWire.com/story.asp?s=4065 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |